GCC holds ‘Gulf Achievements Forum’ to spotlight regional achievements 

The Gulf Radio and Television Organization hosted the “Gulf Achievements Forum,” at GCC headquarters in Riyadh on Monday to showcase the milestones of joint Gulf action, enhance public awareness of regional achievements and explore the strategic future of Gulf integration.

The event aimed to “enhance awareness of the achievements that have directly reflected on the quality of life of the Gulf citizen, and to strengthen the position of the Cooperation Council regionally and internationally,” said secretary-general of the Gulf Cooperation Council, Jasem Al-Budaiwi.

During his opening remarks, the secretary-general affirmed that the Gulf Cooperation Council had transformed challenges into opportunities through integration across all areas of joint Gulf action, “directly impacting the quality of life for Gulf citizens, enhancing their well-being, and strengthening the GCC’s regional and international standing.”

He also stressed that the GCC was no longer just a regional bloc joined by geography and history, but has become a global strategic power where opportunities were created, and models of development, prosperity, security and stability were built.

Al-Badawi said that rapid regional and international changes had proven that the strength of the GCC lay in its “unity and cohesion.”

He stressed that joint Gulf action was no longer merely a developmental choice but a strategic necessity dictated by the nature of the current regional security requirements, global economic shifts and accelerating global challenges.

He added that the GCC states had adopted a specific strategy to combat money laundering, noting the high level of coordination among the interior ministers of the GCC countries to unify their anti-drug strategy.

“The GCC achievements reviewed today are a reflection of an ambitious strategic vision, continuous coordination and a firm political will among the GCC countries,” he said.

Al-Badawi underlined that 95 percent of the traffic connectivity between the Gulf Cooperation Council countries had been completed.

The secretary-general highlighted several qualitative achievements he took pride in, including political integration, military and security cooperation, economic infrastructure, digital transformation, education, health, media, electrical interconnection and food security.

The forum opened with remarks from senior GCC officials, including the secretary-general and the director general of the Gulf Radio and Television Organization, Dr. Abdulrahman bin Abdulaziz Al-Hazzaa.

In his address, Al-Hazzaa emphasized that the event shed light on unifying the media message to amplify the achievements of joint Gulf action.

Al-Hazzaa said that the citizens of the GCC countries were living in “prosperity and stability,” stressing that joint Gulf action was prospering under a clear vision that enhanced development and integration among the GCC countries.

The forum also featured panel sessions and keynotes from key stakeholders on topics such as media, AI, countering money laundering, and connectivity. 

“The future of the GCC is not measured only by the scale of the achievements made, but by our ability to build upon them and transform them into sustainable gains that meet the aspirations of our peoples and future generations,” Al-Budaiwi said.

The forum was held as the region prepares to celebrate the 45th anniversary of the founding of the GCC on May 25.

“The next phase requires intensified joint Gulf efforts, strengthened integration across all fields, and the building of a Gulf economy capable of competing globally, thereby consolidating the position of the GCC countries as an influential global partner in shaping the economy of the future and sustainable development,” Al-Budaiwi said.

source/content: arabnews.com (headlines edited)

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Al-Badawi said that rapid regional and international changes had proven that the strength of the GCC lay in its “unity and cohesion.” (Supplied)

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GCC ACHIEVEMENTS

ARABIAN GULF : Gulf Statistician: GCC countries’ estimated spending to reach $542.1 billion by 2025

 The estimated budget expenditures of the Gulf Cooperation Council (GCC) countries for the current year 2025 amounted to USD 542.1 billion, while the estimated government revenues reached USD 487.8 billion, while the estimated deficit reached USD 54.3 billion, according to data issued by the GCC-Stat.


The GCC-Stat indicated that government revenues in the GCC countries are directly affected by the movement of global oil prices, as oil revenues constitute the largest proportion of financial resources. Countries follow a conservative approach in calculating the break-even oil price to estimate their general budgets to avoid international economic fluctuations and fluctuations in global oil prices.

Government revenues are expected to remain relatively stable, with oil prices remaining at moderate to high levels.


Most GCC countries have projected an increase in their spending in 2025 compared to their 2024 estimates. Increased spending is a determinant of growth in the GCC economies in general, directed toward completing infrastructure projects and stimulating growth in certain economic sectors, with the aim of implementing strategic development plans. Meanwhile, GCC countries plan to finance budget deficits through drawing on reserves and domestic and foreign borrowing.

source/content: wam.ae (headline edited)

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ARABIAN GULF

GULF COOPERATION COUNCIL (GCC) ranks 6th globally in goods trade volume: GCC-Stat

The Gulf Cooperation Council (GCC) Foreign Trade Report for 2023, issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat), highlighted the region’s significant position in global trade.

The GCC ranked sixth globally in the volume of trade in goods index, accounting for 3.4 percent of the total global trade in goods. The region’s trade volume reached $1.5 trillion in 2023, reflecting a 4.0 percent decrease compared to 2022.

The GCC also ranked third globally in the merchandise trade balance index in 2023, with a value of $163.7 billion, compared to $381.3 billion recorded in 2022, which marked a decrease of 57.1 percent.

In commodity exports, the GCC ranked fifth worldwide, contributing 3.1 percent of the global total with exports valued at $0.8 trillion in 2023, down 14.5 percent from 2022. Conversely, the region ranked ninth in total merchandise imports, accounting for 2.7 percent of global imports at a value of $0.7 trillion in 2023, reflecting a 13.4 percent increase from the previous year.

The report further detailed that GCC trade in goods (excluding intra-trade) decreased by 4.0 percent, amounting to $1,482.4 billion in 2023, compared to $1,482.4 billion in 2023.

Commodity exports fell from $962.6 billion in 2022 to $823.1 billion in 2023—a decline of $139.5 billion or 14.5 percent. However, commodity imports rose to $659.3 billion in 2023, up from $581.3 billion in 2022, an increase of $78.0 billion or 13.4 percent.

Oil exports of the GCC countries decreased by 20.5 percent in 2023 to reach $525.5 billion, compared to $661.1 billion in 2022.

As for the main trading partners, the GCC-Stat explained that China ranked first on the list of main trading partners in the commodity trade volume index in 2023. The value of the commodity trade volume amounted to $297.9 billion, surpassing its closest competitor, India, which ranked second with a value of $150.4 billion, with a difference of $147.6 billion.

China is also the GCC Countries’ most important trading partner. It ranked first in terms of the commodity exports index by importing 19.2 percent of the total Gulf commodity exports to global markets in 2023, at a value of $158.3 billion compared to $190.4 billion in 2022, with a decrease of 16.8 percent.

China also ranked first among the GCC countries’ main trading partners in the 2023 Total Merchandise Imports Index. It exported 21.2 percent of the GCC’s total merchandise imports in 2023, with a value of $139.6 billion compared to $126.0 billion in 2022, recording an increase of 10.8 percent over the previous year.

source/content: wam.ae (headline edited)

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GULF COOPERATION COUNCIL (GCC ) STATES